As Big Oil executives gathered this week and discussed the biggest-ever disruption to global energy supplies due to the war in Iran, there was one impact they did not address publicly: the multibillion-dollar windfall they will make because of soaring prices for the energy they sell…
European energy majors TotalEnergies and Shell are among companies eyeing a majority stake in one of the U.S. Gulf's most promising sites, three sources with knowledge of the process said, as interest in North American energy prospects rises due to the Middle East conflict…
Asian countries including Vietnam, Thailand, the Philippines, Indonesia and Sri Lanka are lining up to buy Russian oil as the Iran war blocks supplies, raising the possibility that demand may exceed supply, several sources including Russia said…
A Brazilian federal court has issued an injunction exempting TotalEnergies, Repsol Sinopec, Galp's Petrogal, Shell and Equinor from a tax on crude oil exports, a court document seen by Reuters shows.The Tuesday decision says a 12% tax enacted about a month ago as oil prices spiked due to the U…
The Northern Lights JV has added a third liquefied carbon dioxide (LCO2) carrier to its fleet, as it expands transport capacity for Europe’s carbon capture and storage (CCS) network.The vessel, Northern Phoenix, was formally welcomed in Bergen…
Five European Union countries are calling for a windfall tax on energy companies' profits in reaction to rising fuel prices due to the Iran war, according to a letter from finance ministers to the EU Commission seen by Reuters on Saturday.The finance ministers of Germany…
The Norwegian Offshore Directorate (NOD) has put in focus a major undeveloped gas discovery in the Norwegian Sea that could offer significant value, but warned that time is running out to bring it into production.The Gro discovery, located about…
Gas majors including Shell and Chevron warned Australia against introducing a windfall tax on gas exporters, saying it would deter investment and undermine energy security as LNG prices surge amid disruption caused by the Iran war.Australia…
Adura Energy, a joint venture between Shell and Equinor, has signed a $3 billion reserve-based lending (RBL) facility to support its future growth and energy supply ambitions in the United Kingdom.The seven-year, senior-secured facility is Adura’s…
TotalEnergies' CEO Patrick Pouyanne said on Thursday that the company made a decision not to declare force majeure to any of its liquefied natural gas customers, and that it would respect all the LNG contracts in terms of price and volume.Qatar…
Russian Foreign Minister Sergei Lavrov said the U.S. has been seeking control over the Nord Stream gas pipelines in the Baltic Sea, which were damaged by mysterious blast in September 2022.Explosions that destroyed the pipelines more than three…
OMV Petrom and its partners have completed drilling of the Krum-1 exploration well in the Han Asparuh Block offshore Bulgaria, but did not encounter significant gas volumes.The well, drilled to a depth of around 3,500 meters in the Black Sea…
Van Oord has installed three monopile foundations using GBM Works' jetting solution in combination with CAPE’s vibro lifting tool for the first time at commercial scale, a milestone in silent offshore installation.Designed to reduce underwater noise and minimise impact on marine life…
Romania is hindering further offshore gas exploration in the Black Sea by not auctioning off new blocks, the chief executive of an offshore gas project said on Tuesday.The European Union and NATO member has an estimated 200 billion cubic metres…
Oil companies will have to look further afield for new fossil fuel resources now that the Iran war has dented the investment allure of the energy-rich Middle East. Higher oil prices will give them that chance.Major international oil companies…
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